Internacional Business Centre of Madeira
This information note seeks to clarify some points for our Clients regarding the Special Tax Regime for the International Business Center of Madeira (hereinafter, the
Adapted to the needs of each client to provide a flexible and personalized support.
The DGSJFP has interpreted said article in order to admit the possibility of reducing the minimum capital of a limited liability company below the minimum capital of 3,000 euros and based on the rule of the minimum capital of one euro established in Law 18/2022, of September 28, on the creation and growth of companies.
The above interpretation arose on the occasion of the reduction of the capital of a company from 3,705 euros to 2,115 euros, through the redemption of shares previously acquired by the company, notarized and authorized by a notary public, but with a refusal of registration by the Commercial Registrar of Barcelona, since the new regulation does not include limited liability companies incorporated with the new minimum amount.
The DGSJFP, in order to revoke the challenged qualification, has analyzed the legislative amendment, interpreting the application of the minimum capital extensively, not only at the time of incorporation of the new LLC (art. 4.1 of LSC), but also to the articles that regulate the prohibition of capital lower than the legal minimum (art. 5 of LSC) and the cause of dissolution for a share capital lower than the legal minimum (art. 363.1.f of LSC).
For the General Directorate, the share capital has become a merely formal element that does not correspond to the corporate activity. This being so, the protection of creditors is guaranteed by other means, such as the liability of the administrators, in accordance with art. 369 of LSC, but not with the share capital.
You can see the complete document of the Resolution of June 13, 2023.
This information note seeks to clarify some points for our Clients regarding the Special Tax Regime for the International Business Center of Madeira (hereinafter, the
The Regional Economic-Administrative Court of Madrid (TEAR) recognizes the ISD rebate even with a document formalized by a foreign Notary Public. In a Resolution dated
The General Directorate of Legal Certainty and Public Faith girded to the wording of Article 203 of the Spanish Companies Act (SCA). The GDLCPF ratified